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Religare open to partner global lenders for bank foray: CEO

Religare open to partner global lenders for bank foray: CEO
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First Published: Tue, Aug 30 2011. 12 17 PM IST
Updated: Tue, Aug 30 2011. 12 17 PM IST
New Delhi: Indian financial services provider Religare Enterprises is open to partnering global banks for its foray into banking in India, its chief executive said on Tuesday.
The Reserve Bank of India on Monday unveiled draft guidelines for issuing new banking licences that limit foreign shareholding in start-up banks to 49% for the first five years and allows no one foreign owner to hold more than 5%.
“We are open to have discussion with global banks or financial services institutions who want to enter into market like India and Religare has the option whether they can participate at the bank or they can have broader partnership with Religare as a whole,” Sachindra Nath told Reuters.
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First Published: Tue, Aug 30 2011. 12 17 PM IST
More Topics: Religare | Banking | Licences | Global Banks | RBI |